January 26, 2022
Menicon Co., Ltd.
President and CEO: Hidenari Tanaka
Securities Code: 7780
TSE, 1st section, NSE, 1st section
Contact:
Motonari Watanabe
Senior Executive Officer,
Corporate Management, CFO
Phone:+81-52-935-1646
Notice of transfer of specified subsidiary
Menicon Co., Ltd. ("the Company") hereby announces that the meeting of the board of directors held on January 26, 2022 decided to carry out a capital increase for Menicon Malaysia Sdn. Bhd which is the Company's wholly owned subsidiary. As a result of the capital increase, Menicon Malaysia Sdn. Bhd will become a specified subsidiary of the Company.
1. Reason for transfer to specified subsidiary
As a result of this capital increase, the capital amount of Menicon Malaysia Sdn. Bhd will be equivalent to 10% or more of the Company's capital, making it a specified subsidiary of the Company. The purpose of this capital increase is to strengthen the production facilities for the daily disposable contact lenses.
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2. Overview of the subsidiary (specified subsidiary) to be transferred
(1) | Name | Menicon Malaysia Sdn. Bhd. | |||||
(2) Address | 51-21-A Menara BHL Bank, Jalan Sultan Ahmad Shah, | ||||||
10050 Penang, Malaysia | |||||||
(3) | Name and title of | Managing Director: Koji Kawaura | |||||
representative | |||||||
(4) | Description of business | Manufacture of contact lenses | |||||
(5) | Capital | 17,000 thousand MYR (448 million yen*1, *2) | |||||
(before transfer) | |||||||
(6) | Date of established | March 9, 2021 | |||||
(7) | Major shareholders and | Menicon Co., Ltd. (100%) | |||||
investment ratio | |||||||
(8) Relationship between | Capital ties | The Company has a 100% share. | |||||
the listed company and | |||||||
Personal | Three officers and an employee of the | ||||||
this company | relations | Company concurrently serve as officers of this | |||||
company. | |||||||
Business | There is no business relationship to be noted | ||||||
relationship | with this company. | ||||||
(9) | Financial Position and | FY2020 (Ended March 31, 2021) | |||||
results of operations*2 | |||||||
Net assets | 0 thousand MYR ( | 0 million yen | ) | ||||
Total assets | 74,241 thousand MYR (1,976 million yen*3) | ||||||
Net Sales | 0 thousand MYR ( | 0 million yen | ) | ||||
Operating profit | 0 thousand MYR ( | 0 million yen | ) | ||||
Ordinary profit | 0 thousand MYR ( | 0 million yen | ) | ||||
Current net income | 0 thousand MYR ( | 0 million yen | ) | ||||
*1 The Japanese yen conversion rate of the capital is based on the MUFG Bank (Malaysia) reference rate (TTM) (1 MYR = 26.50 yen) at the time of establishment on March 9, 2021 and the Mizuho Bank conversion rate (1 MYR = 26.36 yen) applied at the time of payment on July 21, 2021.
*2 Japanese yen amounts are rounded down to the nearest million yen and Malaysian Ringgit amounts are rounded down to the nearest thousand MYR.
*3 The Japanese yen conversion rate of the capital is based on the MUFG Bank (Malaysia) reference rate (TTM) (1 MYR = 26.62 yen) on March 31, 2021
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3. Outline of the change in share capital and shareholding ratio
Share capital and shareholding ratio | Called-up share capital: 17,000 thousand MYR |
before the transfer | (448 million yen*1, *2) |
Shareholding ratio of the Company: 100% | |
Share capital and shareholding ratio | Called-up share capital: approx. 184,912 thousand MYR |
after the transfer | (Approx. 5,551 million yen) *4 |
Shareholding ratio of the Company: 100% | |
*4 Capital injection will be made in three currencies: Japanese yen, US Dollar, and Malaysian Ringgit with the conversion rate at the time of registration, so the amount of investment may vary.
4. Date of transfer (date of registration) (provisional) February 18, 2022
6. Forecast
The impact of this transfer on the Company's consolidated business results for the fiscal year ending March 31, 2022 is expected to be minimal.
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Disclaimer
Menicon Co. Ltd. published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 07:15:10 UTC.